El Salvador president addresses bear market concerns with Bitcoin hopium
— Advice received mixed reactions, World keeps track, Supposed loss, 40 million dollars, Coins .”, Reaction, Stop looking, Bitcoin economy, Crypto community amid, Popular suggestions — 1 min read
Nayib Bukele, the president who helped Bitcoin (BTC) gain legal tender status in El Salvador, addressed the rising concerns of investors as BTC began trading for under $20,000 for the first time in 18 months. El Salvador introduced Bitcoin as legal tender on September 7, 2021, when its market price was around $50,000. On-chain analytics signal the oncoming of Bitcoin’s reversal back to its former glory. The advice received mixed reactions from the crypto community as many pointed out the fact that El Salvador procured most of its BTC at a much higher price than the current market value. The Minister of Finance of El Salvador dismissed allegations about the country losing over $40 million due to Bitcoin price dive. Source